Satrec Initiative Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 10, 2023 at 02:26 am EST
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Satrec Initiative Co., Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was KRW 354.02 million compared to KRW 747.63 million a year ago. Net loss was KRW 863.61 million compared to net income of KRW 5,581.88 million a year ago. Basic loss per share from continuing operations was KRW 95 compared to basic earnings per share from continuing operations of KRW 620 a year ago. Diluted loss per share from continuing operations was KRW 286 compared to diluted earnings per share from continuing operations of KRW 174 a year ago. Basic loss per share was KRW 95 compared to basic earnings per share of KRW 620 a year ago. Diluted loss per share was KRW 286 compared to diluted earnings per share of KRW 174 a year ago.
For the nine months, sales was KRW 1,560.35 million compared to KRW 3,452.19 million a year ago. Net income was KRW 2,785.72 million compared to KRW 13,059.97 million a year ago. Basic earnings per share from continuing operations was KRW 307 compared to KRW 1,452 a year ago. Diluted loss per share from continuing operations was KRW 44 compared to diluted earnings per share from continuing operations of KRW 393 a year ago. Basic earnings per share was KRW 307 compared to KRW 1,452 a year ago. Diluted loss per share was KRW 44 compared to diluted earnings per share of KRW 393 a year ago.
Satrec Initiative Co., Ltd. is a Korea-based company engaged in the provision of satellite systems. The Company operates its business through four divisions: satellite, earth, derivative and other. Its satellite division provides satellite systems, including 300 kilogram (KG) and 200 KG class earth observation small satellite systems, 100 KG class low earth orbit micro-satellite systems, as well as electronic optical cameras, among others. Its earth division provides satellite image signal processing devices and software. Its derivative division provides radioactive ray source and amount monitoring systems. Its other division provides memories used in aerospace industry. On April 1, 2014, it divested its image business into a new wholly owned subsidiary, namely SI Imaging Services Co., Ltd.
SATREC INITIATIVE CO., LTD. 
